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93388818
It's cool, I'm takin it back
Premium
join:2000-03-14
Dallas, TX
reply to GetReal

Re: Worth repeating - corporations don't pay taxes-customers do

Tell that to the 47% of individuals who pay NO federal income taxes whatsoever.


GetReal

@cox.net
said by 93388818:

Tell that to the 47% of individuals who pay NO federal income taxes whatsoever.

I love how everyone cherry picks the 47% number. The 47% number comes from the number of tax payers who didn't pay taxes at the worst part of the recession (2009) when millions of people had no jobs, ergo had no taxable income. If you figure in 9 percent unemployment, then it would be close to 38%. If you count total unemployment, including "discouraged workers", which is conservatively around 16%, it drops to 31%. If you count those who work, but are underemployed, that number drops into the upper end of the 20% range.

The number is also inflated due to, get this, the tax cuts that were passed during the Bush administration in 2001 which lowered tax liabilities to zero on many, those same tax cuts that were extended by Obama and then stimulus packages passed by both the Bush and Obama administrations which granted tax credits that pushed even more people to a zero or negative liability.

In other words, the 47% number comes from the fact that the recession has wiped out the earning power of a lot of taxpayers, who before the recession, were paying taxes.

People who use this number clearly have no clue where it comes from and really need to understand where it comes from. The reality is likely much lower than that number when the economic times are less dire.